India, Jan. 1 -- The Government of India has issued a release:
Slabs of AUM (in Rs. Crores)
IMF rates for Non-Government Sector subscribers (NGS)
Up to 25,000
0.12%
Above 25,000 & Up to 50,000
0.08%
Above 50,000 & Up to 1,50,000
0.06%
Above 1,50,000
0.04%
The Pension Fund Regulatory and Development Authority's (PFRDA) board has approved, in principle, a framework to permit Scheduled Commercial Banks (SCBs) to independently set up Pension Funds to manage NPS, with the objective of strengthening the pension ecosystem. This shall enhance competition and safeguard subscriber's interests. The proposed framework seeks to address existing regulatory constraints that had limited bank participation till now. By introducing a clearly defin...